Israel's foreign currency reserves rise to $76.9b in October

The bank attributed the growth to an upward revaluation of the reserves.

Israel’s foreign exchange reserves rose to $76.9 billion at the end of October 2011, $571 million more than a month earlier, the Bank of Israel reported today. The bank attributed the growth to an upward revaluation of the reserves by $1 billion, which was partly offset by $304 million in government transfers and a decrease of $147 million from private sector transactions.

Israel's foreign currency reserves have increased by $6 billion from the $70.91 billion at the end of 2011, and have increased by almost 25% from the $60.6 billion at the end of 2010.

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